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PROOF cancels NFT conference, bitcoin meme creator rakes in $150,000+

Published on

February 21, 2023
Read Time:5 Minute, 38 Second

"Much less curiosity than anticipated" - PROOF cancels NFT occasion

Kevin Rose, the co-founder of non-fungible token (NFT) assortment Moonbirds, has confirmed that their flagship Proof of Convention scheduled for Might has been cancelled, citing "much less curiosity than anticipated".

We made a troublesome resolution at this time, I want to apologize to everybody who deliberate the journey. Full ETH refunds processed, inns are refundable and speak to us relating to flights. (particulars under)

— KΞVIN R◎SE (,) (@kevinrose) February 20, 2023

The convention was first introduced in early November. It was scheduled for Might 11-13 in Los Angeles.

Nonetheless, Rose defined in a February 20 letter to ticket holders that it was not "the suitable time" for the convention:

“As you realize, timing is the whole lot on the earth of NFTs. And at this time is the time for us to comprehend that now just isn't the suitable time for the PROOF of Convention.”

Rose defined that he and his proofing group thought of alternate options, resembling B. choosing a smaller venue in Los Angeles, decreasing the scale of the occasion and decreasing ticket costs.

However in the end, it is best to cancel all the occasion, he stated.

"After a number of weeks of gross sales information, discussions with potential sponsors and discussions with neighborhood members, it's clear that there's presently considerably much less curiosity in an occasion like this than anticipated."

Rose confirmed that the corporate processes Ether (ETH) refunds and that Proof has a claims web page for folks to submit non-refundable flight cancellations.

Kevin Rose and the message from the Proof group relating to the cancellation of the PROOF of Convention. Supply. show.

The occasion would function Michael "Beeple" Winkelmann - the artist behind the well-known NFT, which bought for $69 million in March 2021 - Reddit co-founder Alexis Ohanian; Greg Solano and Wylie Aronow of Yuga Labs; and NFT entrepreneur Gary Vaynerchuk — amongst others.

The announcement comes regardless of the The NFT market has skyrocketed in recent months, with January noting an eight-month high in monthly NFT trading volumes of over $1 billion.

The artist paid $150,000 for the Bitcoin Wizard meme on Ordinals

The emergence of NFT-like "Ordinals" on Bitcoin over the last month has spawned a slew of meme images on the network recently, including a famous Bitcoin Wizard meme that first made the rounds on the Bitcoin subreddit in 2013.

Thanks to Ordinals, the meme artist known as “Mavensbot” has just received 6 bitcoin (BTC) — worth $150,000 at current prices, for his iconic work.

This was made possible after blockchain research analyst Udi Wertheimer and meme-inspired bitcoin community Taproot Wizard wrote the Wizard meme on bitcoin to not only "celebrate the 10th anniversary of his art," but also to raise some money for it collect the creator of the meme. "Mavensbot", according to Wertheimer:

Short story on how we got NFT to back a historic Bitcoin artist with $150,000 via lightning payments and how Bitcoin Maxis HATE us for it.

(I know it's a long tweet but it's a good story)

Mavensbot (above in screenshot below) is the creator of the famous 2013…

— Udi Wertheimer ‍♂️ (@udiWertheimer) February 21, 2023

Inside the first three hours alone, 6 BTC had been despatched to Mavensbot by “NFT connoisseurs” by way of the Lightning Community.

“Seeing that made me actually pleased. The NFT neighborhood, which I like, makes use of the bitcoin asset and Lightning Community I consider in to help an artist whose work means a lot to me.”

"You like to see it," he added.

Taproot Wizards is a part of a motion to “make Bitcoin magical once more” with magical Web JPEGs eternally inscribed on the Bitcoin blockchain.

Nonetheless, Wertheimer emphasised that not everybody agrees with the entire ordinals idea – particularly the “Bitcoin maximalists”.

However Wertheimer doubled down, urging bitcoin maximalists to not take the whole lot significantly:

“It is time to get again to the spirit of the Bitcoin wizard of 2013. Playfulness, willingness to experiment, innovation. Not taking ourselves so goddamn critical on a regular basis. HAVING FUN, for Satoshi's sake. I actually consider that with ordinal numbers we lastly have an opportunity to try this.”

Australian cocktail bar launches NFT membership program

Australian cocktail and NFT connoisseurs have a brand new Sydney venue to hang around at - one that provides holders of its NFTs entry to further bar privileges.

Sydney-based cocktail bar Bar Lulu opened on February 21 alongside a membership bar for NFT members known as Cryptolulu.

Sydney-based clients should buy the NFT Members Membership Bar on the NFT market OpenSea on the Ethereum community to be able to entry sure privileges.

NFT Artist Credit score: Arturo Rodriguez and Mark Monfort. Supply: Bar Lulu.

There are three tokens that may be bought - Jia Lulu, Joo Lulu, and Ryuu Lulu.

Every NFT represents a distinct tier of membership that unlocks distinctive and incremental rewards, priorities, and advantages.

Token holders can take part in numerous Web3 networking and academic occasions, together with entry to unique non-public lounges and dinners.

Bar Lulu claims the NFT membership program is an Australian first.

The bar added that the launch comes on the idea of months of commentary of how related experiments in hospitality overseas have labored.

Former Amazon exec launches Yelp-like platform to charge NFTs

A former Amazon and Starbucks exec, Ben Straley, based the NFT startup “Thred” which goals to develop into the Yelp, Tripadvisor or Zillow of the NFT trade.

The NFT-focused startup launched on February 16 and can assist customers uncover and evaluate NFT collectibles, based on a report by TechCrunch.

A screenshot of the present thread homepage. Supply: thread

Straley's transfer to NFT builds on 25 years of management roles in digital merchandise and buyer experiences.

Thred's platform will mix automated machine studying and algorithms to attain NFTs on the Ethereum and Polygon networks.

It should assist potential patrons higher perceive the significance of the collections and distinguish which NFTs are respectable.

Different nifty information

A month into the “Ordinals” mania on Bitcoin, a Protocol fork has enabled ordinal numbers on the Litecoin network. Australian software engineer Anthony Guerrera said it was “pretty easy” and he was motivated to fork because of a 22 Litecoin (LTC) bounty.

Real Vision co-founder and CEO Raoul Pal stated on Feb. 20 that NFTs will behave similarly to high-end real estate in the traditional economy and will potentially outperform ETH in bull markets.

The former JPMorgan executive explained that NFT collections like CryptoPunks and Bored Ape Yacht Club (BAYC) have become status symbols, much like luxury cars and homes, and he expects this trend to continue.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : February 21, 2023
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